Marriott International, Inc. (MAR) CEO Tony Capuano on Q2 2022 Results - Earnings Call Transcript

Marriott International, Inc. (NASDAQ:MAR) Q2 2022 Earnings Conference Call August 2, 2022 8:30 AM ET

Company Participants

Jackie Burka - Investor Relations

Tony Capuano - Chief Executive Officer

Leeny Oberg - Chief Financial Officer and Executive Vice President, Business Operations

Conference Call Participants

Shaun Kelley - Bank of America

Joe Greff - JPMorgan

Patrick Scholes - Truist Securities

Robin Farley - UBS

Smedes Rose - Citi

David Katz - Jefferies

Brandt Montour - Barclays

Michael Bellisario - Baird

Richard Clarke - Bernstein

Vince Ciepiel - Cleveland Research

Dori Kesten - Wells Fargo

Bill Crow - Raymond James

Duane Pfennigwerth - Evercore ISI

Operator

Good day, everyone and welcome to the Marriott International Second Quarter 2022 Earnings Call. [Operator Instructions] Please note this call maybe recorded. It is now my pleasure to turn today’s program over to Jackie Burka. Please go ahead.

Jackie Burka

Thank you. Good morning, everyone and welcome to Marriott’s second quarter 2022 earnings call. On the call with me today are Tony Capuano, our Chief Executive Officer; Leeny Oberg, our Chief Financial Officer and Executive Vice President of Business Operations; and Betsy Dahm, our Vice President of Investor Relations.

I will remind everyone that many of our comments today are not historical facts and are considered forward-looking statements under federal securities laws. These statements are subject to numerous risks and uncertainties as described in our SEC filings, which could cause future results to differ materially from those expressed in or implied by our comments. Statements in our comments and the press release we issued earlier today are effective only today and will not be updated as actual events unfold.

Please also note that, unless otherwise stated, our RevPAR occupancy and ADR comments reflect system-wide constant currency results for comparable hotels and include hotels temporarily closed due to COVID-19. RevPAR occupancy and ADR comparisons between 2022 and 2019 reflects properties that are defined as comparable as of June 30, 2022 even if they were not open and operating for the full year 2019 or they did not meet all the other criteria for comparable in 2019.

Additionally, unless otherwise stated, all comparisons to pre-pandemic or 2019 are comparing the same time period in each year. You can find our earnings release and reconciliations of all non-GAAP financial measures referred to in our remarks today on our Investor Relations website.